Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Forget natterings about socialism or minimum wage. It's not about that.
It's simple, really. The CEO decided his company would pay certain people an above-market-rate wage. His reasons for doing this aren't clear but from anecdotal evidence, it seems to be he did it because it made him feel good.
Unfortunately, contrary to what many commenters are saying, it wasn't his own money to do with as he pleased. His brother also has a stake in the company.
His actions have put pressure on other local employers to follow suit. And Gravity has lost some customers.
If Gravity Payments goes under, the losers will be the people who are being paid an above-market-rate wage, because they won't be able to find comparable employment elsewhere. And that's the real shame.
Forget natterings about socialism or minimum wage. It's not about that.
It's simple, really. The CEO decided his company would pay certain people an above-market-rate wage. His reasons for doing this aren't clear but from anecdotal evidence, it seems to be he did it because it made him feel good.
Unfortunately, contrary to what many commenters are saying, it wasn't his own money to do with as he pleased. His brother also has a stake in the company.
His actions have put pressure on other local employers to follow suit. And Gravity has lost some customers.
If Gravity Payments goes under, the losers will be the people who are being paid an above-market-rate wage, because they won't be able to find comparable employment elsewhere. And that's the real shame.
I must have missed the part where the business lost some customers? Why would the customers leave because he paid his employees more. As for putting other local employers under pressure to follow suit... so what?
The only valid complaint I have read so far is that it wasn't all his money and that some was his brothers.
I must have missed the part where the business lost some customers? Why would the customers leave because he paid his employees more. As for putting other local employers under pressure to follow suit... so what?
The only valid complaint I have read so far is that it wasn't all his money and that some was his brothers.
I must have missed the part where the business lost some customers? Why would the customers leave because he paid his employees more. As for putting other local employers under pressure to follow suit... so what?
The only valid complaint I have read so far is that it wasn't all his money and that some was his brothers.
What about the seasoned employees who had to work their ways up to their $70,000 salaries? He ended up having several disgruntled long-term employees, and justifiably so.
It follows the same logic as that of the burger-flipper vs EMT.
What about the seasoned employees who had to work their ways up to their $70,000 salaries? He ended up having several disgruntled long-term employees, and justifiably so.
It follows the same logic as that of the burger-flipper vs EMT.
They have every right to quit. I never heard of the fact that pay has to be fair. And from the article, the one employee that did quit was on the verge of quitting to begin with.
I am not a taker...I make a great salary and don't need assistance....however I am more than willing to pay more of my money to ensure that no one else goes hungry...that is pretty much liberal in a nutshell (in terms of fiscal policy). How does that equal an entitlement mentality? That makes me a sharer, a giver, not a taker.
They have every right to quit. I never heard of the fact that pay has to be fair. And from the article, the one employee that did quit was on the verge of quitting to begin with.
So a CEO is going to anger all of his good, seasoned workers who are the root of his earnings in order to appease the new, untrained, inexperienced workers? Unless he raises their wages by a similar amount, it is a recipe for disaster.
So a CEO is going to anger all of his good, seasoned workers who are the root of his earnings in order to appease the new, untrained, inexperienced workers? Unless he raises their wages by a similar amount, it is a recipe for disaster.
Seeing as many of his seasoned ones were going to be quitting anyway because of the hectic work, he didn't lose anything there.
[quote=hawk55732;40689139]Did. No where in the article does it state that they lost customers or that any pressure was put on other local businesses.
It was in the original article from the NY Times. Basically some existing customers took it as a sign of instability in his company and decided to take their business elsewhere.
Quote:
More troubling, a few customers, dismayed by what they viewed as a political statement, withdrew their business. Others, anticipating a fee increase — despite repeated assurances to the contrary — also left.
As far as other businesses go..........
Quote:
As for other business leaders in Mr. Price’s social circle, they were split on whether he was a brilliant strategist or simply nuts. As much as they respected him, they were also disturbed. “I worry how that’s going to impact other businesses,” said Steve Duffield, the chief executive of the DACO Corporation, who met Mr. Price through the Entrepreneurs’ Organization in Seattle. “We can’t afford to do that. For most businesses, employees are the biggest expense and they need to manage those costs in order to survive.”
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
